(CercleFinance.com) – Snap unveiled quarterly results online last night, but forecasts fell below expectations, which caused its stock to fall nearly 12% on Wednesday morning on the NYSE.
On the good news side, the number of active users of its Snapchat app rose 17% year-on-year to 375 million at the end of the fourth quarter, a figure in line with the consensus.
Its turnover, which comes mainly from advertising, remained generally stable over the last three months of the year, at around 1.3 billion dollars over the quarter.
At the level of the income statement, the net loss amounted to 288.5 million dollars, or 18 cents per share, against a profit of 22.5 million dollars, or one cent per share, a year earlier.
For the first quarter of the fiscal year, Snap said it was aiming for between 382 million and 384 million daily active users, a figure below the average Wall Street consensus, which expected 387 million members.
In a note of reaction, analysts at Canaccord Genuity evoke prospects which reflect the economic uncertainty of the moment and consequently lower their target price on the title of 12 to 11 dollars, with a recommendation maintained to ‘hold’.
Following these results, the Snap title plunged 11.8% on Wednesday morning, still well below its introductory price of 17 dollars.
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